Yassky Legislation Would Bring More Jobs to NY

Lights, camera, action!—legislative action, that is—were the themes of Tuesday morning’s press conference on the steps of City Hall, called by Councilmember David Yassky, to discuss his newly proposed film tax credit legislation.

This legislation, which has been in the works for over six months, outlines a two-tiered resolution to revitalize the film industry in New York City by raising the existing film production tax credit and, on top of that, providing additional credit for post-production work. This new piece of policy dovetails previous legislation championed by Yassky in 2004 and passed one year later, in which the New York City government provided filmmakers with an initial 5% tax credit, in addition to 10% from the state.

“Film jobs are good jobs,” Yassky said. “And this is about using the City’s tax code to stimulate growth and diversify our economy.”

According to the Mayor’s Office, the preliminary film tax credit has generated over $600 million and 6,000 new jobs for New York City. And with such outstanding initial results, producers and politicians alike are optimistic about the potential gains of Yassky’s latest proposal.

“The result of 2005’s implementation of the film tax credit was sensational,” said Jake Maguire, Yassky’s spokesperson. “We know it will go above and beyond what we’ve already experienced.”

Assemblyman Michael Gianaris of Queens, who will carry the legislation in Albany to authorize the production credit’s expansion, put the program in perspective, explaining that “New York’s film tax credit is the single most successful economic development program in recent history.”

Yassky and his supporters strongly believe that the proposed tax incentives will not only bring filmmakers back to the five boroughs to shoot, but also provide them with a financially viable reason to stay in the city for the post-production work, for which filmmakers will receive an additional 10% tax cut. For films shot outside of New York State, filmmakers will receive a 15% post-production incentive.

City Councilmember Micah Kellner, a former filmmaker himself, stressed the importance of the creation of more post-production jobs to the economy.

“It’s the post-production that makes or breaks a film and it literally takes a cast of hundreds,” Kellner said. “We want the foley artists, sound mixers, and editors to complete those cinematic masterpieces right here in New York.”

Mick Jackman, the Vice President of Deluxe New York, a post-production film company, added a personal touch. “We just created 50 new jobs,” he said. “And this would be of tremendous value to us. Post-production tax credit would provide a huge incentive for filmmakers to come to New York, and stay here.”

The film industry in and of itself is incredibly dynamic, in that there are a wide variety of jobs associated with it. Matt Servitto, a well-known actor who worked on, among many other projects, the hit HBO series The Sopranos for ten years, emphasized how big of a difference this legislation will make to all aspects of the film industry.

“This is about holding onto the gains we’ve received in the last four years,” Servitto said. “It will continue to create a thriving infrastructure for writers, actors, and producers here in New York.”

Jonathan Bing, a representative of the Tourism and Arts Committee, discussed the vast potential benefits for those working in the service industry associated with making films.

“There will be jobs for people in all the neighborhoods,” Bing said. “All the way down the line, from the workers in the delis to the shoeshine boys.”

Actress/writer Nancy Giles added “I really believe in that trickle-up theory. For the drivers, the set people, and all the kids who are inspired by movies made in New York City, this is a gift to the industry, and an incredible opportunity. This will help keep our city and our industry going strong.”

Other press conference attendees included State Senator Martin Golden, and representatives from the Motion Picture Editors Guild, Writers Guild, Cinematography Guild, American Federation of Musicians, Thearical Teamsers, IATSE and Delux New York Post-Production Company.